Hoa Phat steel sales surge in July
VietReader 4-08-2020, 15:19
Hoa Phat steel sales surge in July
Illustrative image (Source: VNA)

Hanoi (VNA) – Leading steel manufacturer Hoa Phat Group sold 300,000 tonnes of construction steel in July, a rise of 19 percent over that in June and 27.5 percent year on year.

According to the firm, last month it exported 53,500 tonnes of steel, doubling the volume recorded in the same period last year.

Sales in the southern region rose two times year on year to 75,000 tonnes, mostly thanks to civil construction works. The launching of public infrastructure projects also helped push Hoa Phat’s steel sales up.

In the first seven months of 2020, Hoa Phat supplied to the market 1.81 million tonnes of construction steel, up 14.5 percent year on year, including 256,500 tonnes shipped to foreign markets, an increase of 73.3 percent and equivalent to the total export volume in the whole year of 2019.

Major export markets of Hoa Phat steel included Japan, the Republic of Korea, Laos, Malaysia, Australia, Canada, Thailand, and Cambodia.

Along with ready-to-use steel, Hoa Phat also sold 1 million tonnes of steel billets for construction steel production in seven months, with 169,000 tonnes in July alone.

The completion of Hoa Phat Dung Quat port also made great contributions to the transport of Hoa Phat steel, thus promoting its sales. Recently, the port received a 176,000 tonne capsize vessel, the biggest of its kind it had ever served./.